The receipt of cash on account from a customer should be recorded ...

[clmills979]

The receipt of cash on account from a customer should be recorded as
 a. a debit to Cash and a credit to Accounts Payable.
  b. a debit to Cash and a credit to Income from Services.
  c. a debit to Cash and a credit to Accounts Receivable.
  d. a debit to Cash and a credit to the Capital account.
  e. none of these.

Question 2

What's the difference between a principle and a rule? Do principles provide a framework for rules and, if yes, how?
 
  What will be an ideal response?

[mirabriestensky]

Answer to Question 1

C

Answer to Question 2

A principle, although conceptual in nature and thus not enforceable, is a value-based or internal force for behavioral action, such as honesty and integrity. A rule, on the other hand, is an authoritative or external regulatory force for behavioral action. Principles provide a framework for rules because principles define the spirit, reasoning, and meaning of the underlying rules. Hence, principles must be considered when resolving disputes related to rule violations.